Monday, November 8

Socialtext : How far this startup can go ?

E-Commerce News has an article on the upcoming startup Socialtext :

At first glance, Socialtext doesn't look like a company running on a shoestring budget. Founded less than two years ago, it now has more than 50 customers around the world, including Walt Disney and Eastman Kodak (NYSE: EK) , which use its Web software to help people collaborate online. Yet a peek behind the slick Web site reveals a truly virtual company: no offices, only 10 full-time people -- all working at home, and a chief executive who answers the phone himself.

Socialtext co-founder and CEO Ross Mayfield makes no apologies for the threadbare setup.

Increasingly inexpensive and ubiquitous information technologies such as the Internet, wireless connections and cheap computer servers, he says, allow him to run the company with far less money and fewer people than he could have a decade ago -- without scrimping on features or quality. Says the 34-year-old serial entrepreneur: "This is the prototype of the new Internet startup."